Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Sprawozdanie roczne MiFID II/MiFIR na podstawie rozporządzenia delegowanego Komisji (UE) 2017/583 (RTS 2)
Sprawozdanie roczne MiFID II/MiFIR na podstawie rozporządzenia delegowanego Komisji (UE) 2017/583 (RTS 2)
July 2020 | ESMA70-156-3300
MiFID II/MiFIR Annual Report under Commission Delegated Regulation (EU) 2017/583 (RTS 2)
1 Executive Summary
Reasons for publication
This final report covers the mandate under Article 17 of Commission Delegated Regulation (EU) 2017/583 (RTS 2) whereby ESMA is required to analyse whether it is appropriate to move to the following stage in terms of transparency with regard to (i) the average daily number of trades (ADNT) threshold used for the quarterly liquidity assessment of bonds, and (ii) the trade percentile used for determining the pre-trade SSTI thresholds. If that move is deemed appropriate, ESMA is required to submit an amended version of the regulatory technical standard to the Commission adjusting the thresholds for the relevant parameters.
Contents
After an introduction (Section 2), this report analyses the feedback received to the proposal to change the thresholds for the liquidity criterion 'average daily number of trades' for bonds in (Section 3) as well as the trade percentiles...
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